Virgin Galactic Holdings, Inc. (NYSE:SPCE - Get Free Report) saw unusually large options trading on Tuesday. Stock investors purchased 28,329 call options on the stock. This is an increase of approximately 60% compared to the typical daily volume of 17,701 call options.
Virgin Galactic Price Performance
Shares of SPCE stock traded up $0.19 during midday trading on Tuesday, reaching $3.70. 2,474,779 shares of the company traded hands, compared to its average volume of 3,514,717. The firm's 50 day simple moving average is $3.38 and its two-hundred day simple moving average is $3.22. Virgin Galactic has a 1-year low of $2.18 and a 1-year high of $8.19. The company has a debt-to-equity ratio of 1.60, a current ratio of 3.38 and a quick ratio of 3.38. The firm has a market cap of $212.91 million, a PE ratio of -0.41 and a beta of 2.13.
Virgin Galactic (NYSE:SPCE - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($1.47) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($2.12) by $0.65. Virgin Galactic had a negative net margin of 17,828.03% and a negative return on equity of 98.94%. The company had revenue of $0.41 million during the quarter, compared to the consensus estimate of $0.45 million. On average, equities research analysts expect that Virgin Galactic will post -16.05 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
SPCE has been the subject of several recent research reports. Wall Street Zen upgraded shares of Virgin Galactic from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. The Goldman Sachs Group initiated coverage on shares of Virgin Galactic in a research note on Monday, June 30th. They set a "neutral" rating and a $3.00 target price for the company. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $4.75.
View Our Latest Research Report on SPCE
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. Federated Hermes Inc. grew its stake in shares of Virgin Galactic by 134.7% during the 1st quarter. Federated Hermes Inc. now owns 1,956,199 shares of the company's stock valued at $5,927,000 after buying an additional 1,122,535 shares during the period. Wealthquest Corp purchased a new stake in Virgin Galactic during the 1st quarter worth $1,340,000. Caption Management LLC boosted its position in Virgin Galactic by 112.1% during the 1st quarter. Caption Management LLC now owns 11,555 shares of the company's stock worth $35,000 after purchasing an additional 107,315 shares during the period. Invesco Ltd. boosted its position in Virgin Galactic by 510.9% during the 1st quarter. Invesco Ltd. now owns 107,641 shares of the company's stock worth $326,000 after purchasing an additional 90,021 shares during the period. Finally, AXQ Capital LP purchased a new stake in Virgin Galactic during the 2nd quarter worth $216,000. 46.62% of the stock is currently owned by institutional investors and hedge funds.
About Virgin Galactic
(
Get Free Report)
Virgin Galactic Holdings, Inc, an aerospace and space travel company, focuses on the development, manufacture, and operation of spaceships and related technologies. The company engages in the design and development, manufacturing, ground and flight testing, spaceflight operation, and post-flight maintenance of spaceflight systems for private individuals, researchers, and government agencies.
Further Reading
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